Industrial Lease

Former Action Industries / Executive Warehouse
 

The former Action Industries Manufacturing Plant in Cheswick, PA had been leased, in its entirety after the plant closed, to Glenshaw Glass Companies under the subsidiary name of Executive Warehouse, for the warehousing and distribution of glass bottles produces at their plant in Glenshaw, PA.

The closing of the glass manufacturing plant additionally eliminated their need for warehousing and distribution, resulting in over 425,000 square feet empty and the owner with no rental income.

The owner embarked on a competitive search to find a Leasing Broker to represent his interests. Langholz Wilson Ellis, Inc. was hired and immediately implemented their strategic leasing strategy. In six months Langholz Wilson Ellis, Inc. secured tenancy for the owner equaling 50% occupancy with multiple tenants such as American Beverage Company, Rehrig Penn Logistics, Pitt Penn Oil Company, and the United States Post Office. Three months later Langholz Wilson Ellis, Inc. secured a single, National distribution tenant who contracted with the owner for occupancy of the entire property. The lease was structured to phase in as the other tenants leases expired.

 The marketing plan implemented by Langholz Wilson Ellis, Inc. successfully secured the owner almost immediate income to offset the loss of his master tenant.  In addition, this maximized the owner’s potential net income, stabilized his tenancy, and eliminated his risk of vacancy in the future.